All Forum Posts by: Lelith Walker

Wholesaling in some markets may be hard but there is nothing wrong with that.  Personally if I had that I would either find a partner to buy a home, join a reit or syndicate thatdoes not require a lot of money, buy a 2nd position mortgage note,  buy tax lien, or go on these crowd funding sites and put the money in there.  Flips give you the most money the fastest as long as you are in the right market, do proper research, and have a good team.

County clerk office or building dept in your city should have more detailed info on the owner.

What amenities do the apartment buildings have?  Some apartment buildings in my area do rent for more than multifamilies because they have a 24 hr doorman, laundromat, garbage chute, video surveillance doorbell, parking, gym or salon.  My cousins old apartment in Silverspings, MD has a small grocery store (bodega) in it and offered a shuttle to the train.  His apartment costs was way than the apartments in duplexes.  If realtor does not get back to you go to the county clerk website for your state and find out who owns the buildings near where you plan on buying.  Call those people and find out how much they charge and what they are offering tenants.  Better yet check out craigslist just in case. 

http://www.watermarkexchange.com/buy-notes/notes-on-map.html

http://fciexchange.com

http://www.notequeen.com

http://www.notemarketplace.com/

http://www.loanmls.com

people on facebook- note buyers and sellers

When I felt a little bit more comfortable in

• knowledge I gained.  
• Relationships that I developed by joining real estate meetups and networking at local REIA seminars and bigger pockets events. With some people it took 3 years and I still make it a point to talk to someone at least once a week or 2. Please note everyone in my circle isn't a friend or even a potential one, but they have to share my values or work ethic.
• Matching my personality with the real estate strategies that are there
• Putting together exit strategies.
• Lots and lots of prayer

I am using my neighbor in Atlanta as my "property manager" just like my neighbor in NY uses me as a "property manager".  I will only pay him a little something when the apartment or tenant needs tending.  I set up an account with Wells Fargo so that tenants can place the rent into my account.   I do not plan on holding the 2 properties long.  Plus I have a friend who was in the same real estate club with me for 3 years here in NY. He lives in GA now.  I did not buy the properties from him but he did help me with them already and the properties are near his relatives home.  Check out his site at http://www.100percentfinanced.com/

The people at GAREIA were very helpful to me.  Both the people on the board and the people that I sat next to at the seminar.  I heard North Metro is good too from others that I know.  Membership is not too expensive but you do not have to be a member to go to a seminar. 

Some gurus do help people particularly those that offer a lifetime of support. However, the one that I paid for did not help me as much as I wanted. The education was good, however, the terms that he had for the deal he would partner on was unrealistic for my area. When I left my area to search elsewhere the time given was not enough for me to find anything. What worked was going to a REIA meetings, joining local real estate meetup groups, networking at real estate seminars including the little ones that Bigger pockets gives. Attending free classes at HUD, HPD, NHS and any other government housing agency in your area or area where you want to invest plus networking there helps tremendously. The teachers there love to talk. Everything else was seeing if the numbers add up, looking at jobs in area, and instinct.

Other options is owner financing, lease options, and airbnb

Not sure if this applies but maybe corporate housing, registering home to film commission of the state for movie, tv, and photo shoots, and rent out your roof to energy companies.

Some contractors will play you for stupid when they see that you are a single woman.  If there is a man in the house they tend to do better work and charge less.  Some will even try to sleep with you.  I know some women who do thinking that they will save money but they do not.  They often get played.  When it comes to doing deals both men and women can be decent or grimy.  For me it is good to get to know a person for 6mo-1yr.  You do not have to be there friend just their track record and trustworthiness.  I still pray even after that.